Cryptocurrency wallet

A blockchain account is called a “wallet”. It is like an email address, but for the blockchain. Each wallet account is unique, and is accessed by a long 12 words password called “seed phrase”. If you lose your seed phrase, nobody can help you recover it like in a normal email account, so it’s very important to keep it secure. The best practice is to make sure you maintain access and secure access. What does it mean in practice?

Maintain access: Keep a paper copy of your passphrase. Put it with your important documents. In a few years your phone and computer will be gone, don’t keep your only copy there.

Secure access: Do not save your passphrase online as plain text. Have only strongly encrypted copies online and in your computer. Do not give it to anyone. If a website asks you to enter it, first triple check if it’s legitimate.